the agm

The meeting started on time addressed by NC with an overview of the progress and present situation and and , introduction of the Directors. There were about 160 people at the meeting.
(Re the so called protest outside – I counted 5 people who seemed to be in the group – more cameras and press people than protesters) The sound system was lousy and NC agreed with an apology and suggested a different venue will be considered for next year.
The agenda was presented and NC asked that the matters be addressed specifically to the agenda and clearly stated that there will be time after the formal procedures for questions of any kind to be put and answered.
Notwithstanding this request a number of people immediately put up questions concerning “the Crown affair” “poor management” as they saw it and the “issue of options” past and in the future.
As reported on another post a guy wanted to present a report about the “costs of options issued in the past would result in too much benefit”! What he thought was ‘enough benefit’ is a matter for value system and made his statements quite absurd.
I think one of these people who spoke out of order was the rep of the SAG or the shareholders Association …not sure about this maybe someone can correct.
Anyway whoever this person was, lost all credibility for whoever he represented.
He was ‘out of order’ and his questions were nothing short of silly. IMHO.
In the end after a lot of wasted time trying to stop people rambling on….the remuneration report was carried.
To cut to the chase NC and Liam Forde reiterated their independent positions on the board and in respect of the Crown affair. Nothing that already has been stated by them previously.
Rightly NC wouldn’t comment on the machinations of the Malaysian Government. Another bloke suggested appointing a Malaysian national to the board as good politics and social responsability.
Re the issue of options to NC – it went to a poll and I left before the results were announced so I don’t know the result.
I could go on but this is getting boring…….in short the meeting produced no new info (which was expected by me anyway). OH yes NC reiterated the position of Lynas re Malawi and apart from old info re the legal action he stated that he expected good results from drilling samples.
Perhaps others can add to my comments.
Overall I have to admire NC and Liam Forde and the others for staying cool and responding respectfully, carefully and kindly to many questions that were somewhat personal and confronting.
I know I couldn’t be as patient and respectful as they were to some of the inane and of the track questions or statements that were put at this meeting.
Most importantly though there were chocolate croissants and other pastries with coffee and tea available.
Finally IMO NC has balls and I wouldn’t have it any other way. I like his “go-getcha” attitude and passion ………even if he looks after himself along the way.
In the end he is making money for all of us.
I am looking forward to a great future with this Company and very glad I took the plunge some 4 years ago. Only wish I had more dough to buy more shares now.
Any other attendees please add your comments or views.
Sorry if this is a bit long and uneventful but thats how it was!